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Dec 20, 2012
12/12
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it looks like the fiscal cliff is about to kill christmas. a survey showed a third of the public is so concerned about the fiscal cliff and what our tax rates will be we have cut back on spending altogether. and the estimate for holiday sales is revised from 3.3 percent to 2.5 percent because of the fiscal cliff and super storm sandy and deep discounts. those deep discounts can continue on saturday, super saturday, the biggest shopping days of the year, a couple daze before christmas this year, so if you go in the store and you are look if 70 percent off sale you will find it. i am not sure your item will be in stop but you will like the price tag. happy shopping if you are not done already. i am. i am wrapped and i have the bows. >>neil: i knew you would rub that in. but processed meats and cheeses are everyone's favorite gift. tomorrow is my crist shopping tips if everyone. many americans country on tax refunded to pay if the holiday shipping bills they are stacking up but what if the refunds are delayed, seriously delayed? this wanting fro
it looks like the fiscal cliff is about to kill christmas. a survey showed a third of the public is so concerned about the fiscal cliff and what our tax rates will be we have cut back on spending altogether. and the estimate for holiday sales is revised from 3.3 percent to 2.5 percent because of the fiscal cliff and super storm sandy and deep discounts. those deep discounts can continue on saturday, super saturday, the biggest shopping days of the year, a couple daze before christmas this year,...
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Nov 27, 2012
11/12
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is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be a bad thing? >> it would be a bad thing to raise taxes. it doesn't make sense to me. i don't accept that cutting spending is bad for the economy. i think cutting federal spending, which means less borrowing up here, is go for the economy, but i do think taxes going up is a bad thing for the economy. i agree with half of the equation of the fiscal cliff, but i don't agree if taxes going up is bad for the economy why would we only want half of the taxes to go up? >> greta: that's like the reverse of the democrats. i think senator harry reid thinks it's a
is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be...
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Dec 31, 2012
12/12
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at the bottom of the fiscal cliff are immediate and massive tax increases, deep and indiscriminate spending cuts, and a risk of another recession. if we come down on the final hours -- we have to bang choices -- to do nothing and cause an unbelievable amount of hardship for our fellow americans, or to do something to reduce the suffering inflicted on our citizens by an inflexible political system. mr. president, i choose to do something. today i am introducing the act -- the cliff alleviation at the last minute act. the act would do three important things. it will soften the financial blow the fiscal cliff, it will colmar financial markets, it gives us the certainty of a plan. it allows us, if we ever find the courage, to pursue the fiscal grand bargain that has eluded us so far. the financial markets are watching us and getting warmer -- nervous by the hour. we need to assure the market will of making good financial decisions. this bill is not something i'm excited about or proud to offer. this is not a great plan but merely a better plan been going over the cliff. it should never have com
at the bottom of the fiscal cliff are immediate and massive tax increases, deep and indiscriminate spending cuts, and a risk of another recession. if we come down on the final hours -- we have to bang choices -- to do nothing and cause an unbelievable amount of hardship for our fellow americans, or to do something to reduce the suffering inflicted on our citizens by an inflexible political system. mr. president, i choose to do something. today i am introducing the act -- the cliff alleviation...
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Dec 27, 2012
12/12
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FBC
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timtime to take down the verbal warfare and cut a deal sparing the fallout of the fiscal cliff. gerri: can we get anything with any meaning before the end of the year? >> not get your hopes up on a big deal on the debt. not too many tax increases, some will be in there. avoiding the sequester, the spending cuts, that is the best thing that could happen at this point and i'm pretty optimistic person, i get up every morning thinking good things will happen but this is causing me to drink every night so i did not know if i will get there or not. gerri: you glass half-full kind of guy. i hope your champagne glasses more than half full on new year's. have a good one. while the chances of lawmakers reaching a deal seemed to be slim to none, you'll be glad to know some state lawmakers will% be warned though much more productive. here are some of our favorites. let's start with illinois. starting in 2013 and new law gives motorcyclists be okay to run red lights. leave it or not. after complaints from cyclist who say light sensors don't see the cycles. and the okay for computer-driven ca
timtime to take down the verbal warfare and cut a deal sparing the fallout of the fiscal cliff. gerri: can we get anything with any meaning before the end of the year? >> not get your hopes up on a big deal on the debt. not too many tax increases, some will be in there. avoiding the sequester, the spending cuts, that is the best thing that could happen at this point and i'm pretty optimistic person, i get up every morning thinking good things will happen but this is causing me to drink...
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Dec 23, 2012
12/12
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they do not want that fiscal cliff. there are a number that are angry over the cuts that would come from defense. there is growing sentiment among some of them that if you go over the cliff, you look at the first real dollar to dollar ager spending cuts in a generation. some of them are eager about that. not necessarily a public thing, but they are talking amongst themselves. is this the worst thing if we go over it? some are looking at the same situation with tax rate. it is not the worst thing if we can suddenly raise our are sent to joe tax rates -- of tax rates. the center is boehner and obama and the other leadership posts there publicly saying no, no. you cannot go over this. we should stop this. host: barbara from texas. caller: thank you for taking my call this morning. merry christmas. i have been listening to c-span a lot. i have got some comments and one question. i do believe that we need to go over a physical cliff. doing a deal at the end of the year is getting old because everything is rushed. we need to
they do not want that fiscal cliff. there are a number that are angry over the cuts that would come from defense. there is growing sentiment among some of them that if you go over the cliff, you look at the first real dollar to dollar ager spending cuts in a generation. some of them are eager about that. not necessarily a public thing, but they are talking amongst themselves. is this the worst thing if we go over it? some are looking at the same situation with tax rate. it is not the worst...
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Jul 19, 2012
07/12
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right now the fiscal cliff, as it's been described, consist of really those two elements. and the concern is, according to the congressional budget office, if we don't take steps to address that, then in the first six months of next year it could cost our economy 1.3% in economic growth which according to the cvo would probably result in a recession. >> this is troubling, at least i think it's a bit troubling, is that last november the supercommittee couldn't come up with anything to handle the sequestration, the budget cuts. and after they couldn't do it it seems like everybody gave up. all what anyone did was talk about it and it still isn't fix. now they are saying how important it is to move fast and do something about it. even though nothing has been done since november on either side. coming up in august there's a recess. everybody goes out, nobody is doing anything about it. and the first time we are really going to hear anything about it is when the heat is put on all of you after the election, the lame duck, when people are making decisions who have been voted out
right now the fiscal cliff, as it's been described, consist of really those two elements. and the concern is, according to the congressional budget office, if we don't take steps to address that, then in the first six months of next year it could cost our economy 1.3% in economic growth which according to the cvo would probably result in a recession. >> this is troubling, at least i think it's a bit troubling, is that last november the supercommittee couldn't come up with anything to...
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Dec 21, 2012
12/12
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cliff. >> what the american people are watching right here, right now is the tragic comedy because the other side knows quite well that even if this legislation passes the house today, it is going nowhere. >> president obama and if senate democrats haven't done much of anything. >> this is not a plan -- it's a ploy. >> people are not blaming obama for any of this mess yet. >> two republicans take up our bill in the house, the one that passed here, there is nothing to discuss. we are not taking up any of the things they are working on. >> this idea of passing plan "b" is dead on arrival. >> obama is getting credit for trying to fix it and trying to deal with it -- that's got to change. >> we also know very well that revenues are not the issue here, it is spending. >> their plan "b" will slow walk us over the fiscal cliff. >> he has to own this stuff. >> we don't just have a fiscal cliff, we have a fiscal abyss in front of us. and that is the debt crisis that is on our horizon. >> plan "b" is
cliff. >> what the american people are watching right here, right now is the tragic comedy because the other side knows quite well that even if this legislation passes the house today, it is going nowhere. >> president obama and if senate democrats haven't done much of anything. >> this is not a plan -- it's a ploy. >> people are not blaming obama for any of this mess yet. >> two republicans take up our bill in the house, the one that passed here, there is nothing...
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Dec 23, 2012
12/12
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and tax hikes everyone's calling the fiscal cliff. the white house and top lawmakers are at odds on how to avoid the crisis. on "fox news sunday" two key senators gave their thoughts on where the talks are headed. >> i would hope we would have one last attempt here to do what everyone knows needs to be done, a larger plan that stabilizes the debt and gets us moving the right direction and does it in a way that is cognizant than we have a economy that's recovering and is weak. >> the president is eager to go over the cliff for political purposes. he sees a victory at the bottom. he gets additional tax revenue, he cuts the military which democrats have been calling for and he gets to blame republicans for it. >> joining us now as he does every sunday, chris wallace. good morning, chris. >> good morning, eric. >> we just heard two conflicting views. one senator saying that they hope to have one last meeting. the other saying he thinks president obama wants to go over the fiscal cliff. chris, what do you think's going to happen? >> up til
and tax hikes everyone's calling the fiscal cliff. the white house and top lawmakers are at odds on how to avoid the crisis. on "fox news sunday" two key senators gave their thoughts on where the talks are headed. >> i would hope we would have one last attempt here to do what everyone knows needs to be done, a larger plan that stabilizes the debt and gets us moving the right direction and does it in a way that is cognizant than we have a economy that's recovering and is weak....
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Dec 11, 2012
12/12
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CNBC
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what would you cut out to help avert the fiscal cliff? use the #cut this with your ideas "street signs" or at mandy cnbc. speaking of @mandycnbc, inglewood cliffs, i'm at our nation's capital. good to see you. >> good to see you and everybody. thanks for those that already tweeted in answers. look at this, we found someone really rising above. we say we rise above, others rise above but this is really rising above. her name is nancy. she is wearing as you can see there in her ears a rise above pin. hats off to her, maybe we can take a page out of nancy's book. in the meantime, this is what we've got coming up for you. a really big show on top. hopium in full swing. "street signs" things it can be done, tell you how to of moo your money. signs point to a housing recovery. if a deal does not get done, could housing be the biggest hit of all. herb, he's back and he's ready to deliver his bold prediction on jcpenney. what else? you do not want to miss it. we now know where the last twinkies on earth were delivered. we'll tell you. it's a big
what would you cut out to help avert the fiscal cliff? use the #cut this with your ideas "street signs" or at mandy cnbc. speaking of @mandycnbc, inglewood cliffs, i'm at our nation's capital. good to see you. >> good to see you and everybody. thanks for those that already tweeted in answers. look at this, we found someone really rising above. we say we rise above, others rise above but this is really rising above. her name is nancy. she is wearing as you can see there in her...
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Dec 26, 2012
12/12
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interesting to see -- >> i know you have to go, the fiscal cliff -- the fiscal cliff wants to cut money from mental health services. >> indeed. mr. michael nutter of philadelphia, we appreciate it. >>> let's shift back to the fiscal cliff and the art of the possible with one of the lawmakers that will have to pass a vote if a deal is consummated, kay bailey hutchison, member of the appropriations committee and republican from texas, she joins me now. thanks so much for being on the program. >> thank you, luke. >> so we know now the ball is in the senate's court, emphasis is now on harry reid and mitch mcconnell. seems the house is not in session. johnny isakson, your colleague from georgia said congress should pass the $250,000 and below deal because that's what's going to happen afterwards. do you think that should happen? >> i do not. i think $250,000 is too low a threshold. a lot of working people who are couples would exceed that. however, i talked to some of my democratic colleagues and they are saying maybe in the $400,000 or $500,000 category we could set a benchmark. i do think
interesting to see -- >> i know you have to go, the fiscal cliff -- the fiscal cliff wants to cut money from mental health services. >> indeed. mr. michael nutter of philadelphia, we appreciate it. >>> let's shift back to the fiscal cliff and the art of the possible with one of the lawmakers that will have to pass a vote if a deal is consummated, kay bailey hutchison, member of the appropriations committee and republican from texas, she joins me now. thanks so much for...
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Dec 29, 2012
12/12
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but the other thing about the fiscal cliff is you don't want to be blamed for going over it. it is going to be bad for the economy. it's bad for the country. what speaker boehner's done is create a situation in which we're going to go over the fiscal cliff. but the people who want higher taxes, the democrats, they're not going to be blamed for it. after all, it was john boehner who walked away from negotiations to try plan "b" last week. then it was john boehner who planned to pass plan "b" that very same week. then it was mr. boehner who said it was up to the senate, someone else's problem. just from a pr perspective, what john boehner has done here is a debacle for the republicans. and the white house, they've just been sitting back the last week or so and letting it happen. but today, they gave us their plan going forward. you could call it deal and jam. >> i'm optimistic we may still be able to reach an agreement that could pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time, between
but the other thing about the fiscal cliff is you don't want to be blamed for going over it. it is going to be bad for the economy. it's bad for the country. what speaker boehner's done is create a situation in which we're going to go over the fiscal cliff. but the people who want higher taxes, the democrats, they're not going to be blamed for it. after all, it was john boehner who walked away from negotiations to try plan "b" last week. then it was john boehner who planned to pass...
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Nov 28, 2012
11/12
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suggesting he and lawmakers come up with spending cuts next year after they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff. since the republicans want spending cuts included. >> republicans are willing to put revenue on the table. but it's time for the president and democrats to get serious about the spending problem that our country has. >> the president's move came one day after two other big developments, suggesting democrats want tax hikes on the rich now, with the promise of cuts to programs like medicare later. on tuesday, senator dick durbin flatly declared entitlement reform should not be on the table. yesterday, top white house officials also met with leading liberal groups, from labor unions to moveon.org. with one attend
suggesting he and lawmakers come up with spending cuts next year after they avoid the fiscal cliff, by extending middle class tax cuts and raising taxes on the rich. >> it would give us more time than next year to work together. on a comprehensive plan to bring down the deficit, streamline our tax system. do in a balanced way. >> the president apparent shift away from spending and tax altogether now in a big deal could increase the chances of a market rattling fall off the cliff....
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Dec 28, 2012
12/12
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KGO
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cliff would bring massive increases and deep spending cuts treasury department would have treble paying its bills. many -- many worry it would plunge the u.s. back into a recession. one possible effect of the fiscal cliff, milk prices could spike two or three dollars a gallon because farm programs will expire the end of the year. some are calling that dairy cliff. wendy gillette, abc news, new york. >>> mike jing us with a look at the -- mike joining us with a look at the forecast, more rain on the way? >>> in due time we'll get light rain not this morning high clouds to the east from sutro tower in san francisco where dry now live doppler 7 hd spinning tracking the showers, the rain i should say as it is developing over the ocean water right now let's see how far that is, 41 miles from santa rosa, 51 from san francisco, under the returns, very dry air, sprinkles at best lieu the 30s, just updated these the entire peninsula, upper 30s only 40s left, half moon bay 41, oakland 42, san francisco 44. everybody else mid to upper 30s. 33 gilroy. 40 salinas. cool start today, light rain by the
cliff would bring massive increases and deep spending cuts treasury department would have treble paying its bills. many -- many worry it would plunge the u.s. back into a recession. one possible effect of the fiscal cliff, milk prices could spike two or three dollars a gallon because farm programs will expire the end of the year. some are calling that dairy cliff. wendy gillette, abc news, new york. >>> mike jing us with a look at the -- mike joining us with a look at the forecast,...
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Jul 16, 2012
07/12
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. >> reporter: they're taking the country over fiscal cliff if the republicans won't increase the tax increases. that translates to allowing $600 billion in tax hike and spending cut to take effect next year, which the head of the democratic snarl campaign committee laid out today. >> if we can't get a good deal, a balanced deal that calls on the wealthy to pay their fair share, thenly continue the debate to 2013, rather than lock in a long-term deal this year to throw middle class families under the bus. >> reporter: republican leaders worry it would throw the economy back to a recession and says this shows that democrats would do anything to get their way. >> make no mistake. if the democrats are proposing today is entirely avoidable high stakes game of chicken. with a single minded goal of taking more money from those who earn it for government to waste. >> reporter: in a "wall street journal" op-ed with the headline "the tax cliff is a growth killer" art laffer wrote, "the united states faces an economic collapse thanks to massive tax increases on january 1 and continue deficit sp
. >> reporter: they're taking the country over fiscal cliff if the republicans won't increase the tax increases. that translates to allowing $600 billion in tax hike and spending cut to take effect next year, which the head of the democratic snarl campaign committee laid out today. >> if we can't get a good deal, a balanced deal that calls on the wealthy to pay their fair share, thenly continue the debate to 2013, rather than lock in a long-term deal this year to throw middle class...
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Dec 28, 2012
12/12
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WUSA
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. >>> we are also keeping a close eye on the looming fiscal cliff. the deadline for across the board tax increases and deep spending cuts is just four days away. president obama is scheduled to meet with congressional leaders at the white house this afternoon. senate majority leader harry reid says the likelihood of reaching a deal is a long shot. but senator charles schumer told the "today" show that the odds are better than people think. if a deal were to pass, senate house speaker john boehner would have to agree to take it to the floor of the republican controlled house. danielle nottingham has more. >> reporter: president obama is meeting today at the white house with top congressional democrats harry reid and nancy pelosi and leading republicans mitch mcconnell and john boehner. it's the president's first meeting with congressional leaders since november 16th. the closed door discussions are an attempt to reach a last- minute agreement to avoid automatic spending cuts and tax increases due to kick in on january 1st. >> probably the worst case s
. >>> we are also keeping a close eye on the looming fiscal cliff. the deadline for across the board tax increases and deep spending cuts is just four days away. president obama is scheduled to meet with congressional leaders at the white house this afternoon. senate majority leader harry reid says the likelihood of reaching a deal is a long shot. but senator charles schumer told the "today" show that the odds are better than people think. if a deal were to pass, senate house...
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Dec 30, 2012
12/12
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the payroll tax is one of the components of the fiscal cliff. as the article points out, most of the discussions and plants have not involved in extending that to read what that means is, the first paycheck in january, federal withholding for social security will increase and take- home pay will drop by about 2%. host: from what you have seen and heard of the negotiations going on back and forth between the white house and senate and house, what other items are you most concerned about regarding how going over the cliff will affect the average american? guest: most of the discussion thus far has focused on the individual income tax provision that for the most part had been in affect for the past 10 years or so. one aspect of the fiscal cliff does not actually -- is not about 2013 taxes. but it still left over business from 2012. congress has not yet enacted its annual fixed to the alternative minimum tax. if no action is taken, and a lot of people have probably not even heard of the alternative minimum tax. it would insnare more than 30 million
the payroll tax is one of the components of the fiscal cliff. as the article points out, most of the discussions and plants have not involved in extending that to read what that means is, the first paycheck in january, federal withholding for social security will increase and take- home pay will drop by about 2%. host: from what you have seen and heard of the negotiations going on back and forth between the white house and senate and house, what other items are you most concerned about...
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Dec 19, 2012
12/12
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CNBC
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and then you are going to come into more fiscal cliffs. we didn't cut spending so we are going bankrupt. so how is that going to work out? >> right. and that is what i was thinking as you guys were talking. kicking the can down the road. it is not going to work for markets or businesses. they need sernl ti acertainty. that would be one of the worst case nascenarios to have this. i can you would see money flow out of the market. >> by the way, nancy pelosi wanted $1 million threshhold. everyone went back to the blogs running wild today. i've interviewed her a couple of times. can she get it? >> maybe. let me tell you what, whatever deal goes down, nancy pelosi is going to be the key to making it happen. >> all right we have to get out of here. thank you very much. next up the haeart ache and har good-byes continue in newtown, connecticut. good evening jay. >> reporter: good evening, larry, as you might imagine another rough day here in newtown, connecticut. first graders from sandy hook elementary gathered to bury two more of their classmat
and then you are going to come into more fiscal cliffs. we didn't cut spending so we are going bankrupt. so how is that going to work out? >> right. and that is what i was thinking as you guys were talking. kicking the can down the road. it is not going to work for markets or businesses. they need sernl ti acertainty. that would be one of the worst case nascenarios to have this. i can you would see money flow out of the market. >> by the way, nancy pelosi wanted $1 million...
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Dec 30, 2012
12/12
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cliff. he said he is moderately optimistic that a deal could be done by december 31. congressional leaders are working on crafting a bill. certainly no grand bargain here that would improve entitlements. if they can't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the president's comments. he was very direct. reporter: he was. d now he passes on to the senate. senate majory leader harry reid, senate minority leader mitch mcconnell. they are trying to come up with something that can pass the house and the senate. the president laid out a proposal earlier this evening. at the beginning of this meeting. $250,000 per year. that income would be shielded from tax increases, and now he wants an extension of unemployment insurance. that is something that essentially a nonstarter in a
cliff. he said he is moderately optimistic that a deal could be done by december 31. congressional leaders are working on crafting a bill. certainly no grand bargain here that would improve entitlements. if they can't get a deal, the president has told harry reid to put the white house proposals up for an up or down vote. the details just keep on coming out. with us now are two guests. first, we are going to go rich edson. he is here with the very latest. tell us what you made of the...
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Dec 31, 2012
12/12
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cliff is just a minor blip with you in the long run they actually won a large chunk of what they've been after? >> we're going to have to see what is the impact in the the days ahead. can the republicans somehow turn that around? they certainly, inside the white house believe just the opposite because they believe that john boehner was sort of out maneuvered here, he had been pressing the president, pressing the president for some of his issues and what boehner may have forgotten is at the end of the day if there's no action by the congress, all of the bush tax rates are expiring, so the president is going to get what he's wanted in this debate all along, which is that taxes are going up on the rich and-- >> the president's outmaneuvered the republicans from the very beginning on this. >> ed doesn't have to answer that question. >> and kimberly, we're going to give you the last question, before we go to mike emanuel. >> i have a civilized question for mr. henry. >> and civilized-- >> my goodness, bob. >> it sounds worse than the negotiations on the hill. >> it's worse, thank goodnes
cliff is just a minor blip with you in the long run they actually won a large chunk of what they've been after? >> we're going to have to see what is the impact in the the days ahead. can the republicans somehow turn that around? they certainly, inside the white house believe just the opposite because they believe that john boehner was sort of out maneuvered here, he had been pressing the president, pressing the president for some of his issues and what boehner may have forgotten is at...
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Dec 28, 2012
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nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the country is in a financial crisis. i think obama gets a superhero cape after this. >> andrea: people say republican goes down either way on this. but the house and the senate, this last election by blaming republicans. does he think he will get blamed for this? no. he figures i can do whatever i want. leave the republicans out for dead. >> eric: he is winning the messaging game. that is clear. >> andrea: i say that with confidence. he was able to say look, i was willing to meet them halfway. more than 50%. they don't want to work with us together. he is coming off strong, comin
nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make $175,000 a year. you get vacation days off. they go back and smoke cigars, eat steak, drink wine and laugh. >> andrea: is there something wrong with eating and drinking? if with pay them to do it. >> eric: they want to hit the buffet line. >> andrea: do it on their own time. not when the...
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Sep 22, 2012
09/12
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especially if we fall off of the fiscal cliff. if we had the deep spending cuts and increases in taxes that are part of the worst-case scenario. in that case we will probably get a contraction by gdp. that will definitely put us in a painful recession, unemployment will soar well above 10%. gerri: you look at what happened as we approach this fiscal cliff. the one, two, three punch, if you will. the bush tax cuts go away. that hurts. then we have obamacare taxes that come into play. finally, the alternative minimum tax. that starts to hurt millions of americans. there are all kind of additional taxes that come into play also. it is my feeling that americans really do not know the breath of changes that they will be facing coming next year. >> the average tax increase will be close to $4000 for each and every american. that will prove costly. one thing we want to remember is that the united states went through a period where there was a sharp contraction through government. i am talking about the end of world war ii. since we have
especially if we fall off of the fiscal cliff. if we had the deep spending cuts and increases in taxes that are part of the worst-case scenario. in that case we will probably get a contraction by gdp. that will definitely put us in a painful recession, unemployment will soar well above 10%. gerri: you look at what happened as we approach this fiscal cliff. the one, two, three punch, if you will. the bush tax cuts go away. that hurts. then we have obamacare taxes that come into play. finally,...
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Nov 7, 2012
11/12
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FOXNEWS
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the more immediate situation is that fiscal cliff, the trillions of spending cuts and tax increases due do hit in the new year and that is something the lame duck congress has to get cracking on immediately starting probably next monday. so, the bottom line, he is saying, do not raise taxes. that is not a way to grow the economy. he is saying we need to find other solutions to head off that crisis which is right around the corner. >>shepard: thank you. our political panel, a democratic campaign consultant and president of a media firm, and a republican strategist and former spokeswoman for the republican national committee. what did you hear? >> i thought it was a good speech. he sort up parameters of what he would like to do, the olive branch to to the president and e president would be wise to listen to some of this. this is the president's win. no question. congratulations to him. but it was very close in the popular vote and i am sure that the obama white house is also remembering two years ago when voters sent the republicans into the majority of the house of representatives which
the more immediate situation is that fiscal cliff, the trillions of spending cuts and tax increases due do hit in the new year and that is something the lame duck congress has to get cracking on immediately starting probably next monday. so, the bottom line, he is saying, do not raise taxes. that is not a way to grow the economy. he is saying we need to find other solutions to head off that crisis which is right around the corner. >>shepard: thank you. our political panel, a democratic...
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Dec 28, 2012
12/12
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WUSA
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a deal to avoid the so-called fiscal cliff. in ten days across h board-spends cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. >> they have to have their milk. we might have to cut elsewhere. >> reporter: back then the process was more laborious and farmers needed a higher subsidy to cover their costs. dan sumner says the new price of milk will with far above what it now costs dairy farmers to produce it. >> it really will be chaos. >> reporter: so we would go back to this old farm bill which would force the government to buy milk at an extremely high price. >> that's right. >> reporter: this could be a windfall for dairy farmers. >> here's the problem. they don't want chaos. it sounds good, everybody will double or about triple t
a deal to avoid the so-called fiscal cliff. in ten days across h board-spends cuts take effect. >>> if president obama and congress fails to reach an agreement the price of milk could lead sharply. john blackstone reports. >> who wants milk? >> me. >> me. >> me. >> reporter: with four children the rasmussen family in california drinks about five gallons a week on milk. if congress doesn't pass the bill, i would cost him $106. >> they have to have...
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Dec 13, 2012
12/12
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CSPAN
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host: if there is no agreement reached on the fiscal cliff, no beneficiary cuts. is that correct? guest: the providers are facing a 2% cut on sequestration will complain to their patients that washington is taking too much from them. host: 202 is the area code if you would like to participate. 202-585-3881 for republicans. 202-585-3880 for democrats. 202-585-3882 for independents. do medicare premiums go up every year automatically? guest: part b is about $99 this year and that will increase to $104 next year. beneficiaries face deductibles and co-payments. things like hearing aids and eyeglasses are not covered. some of those plans do cover those services. for the 75% of beneficiaries, they pay deductibles for their part b and they have copays and are spending a bit of money out of their pockets for health care. host: nancy pelosi had op-ed this morning. a nonstarter?non starte >> "how do we protect the vulnerable 66-year-old if we go this route? how can they avoid the premium? how can we protect them?" look at the savings you can achieve. could the day through a policy solution
host: if there is no agreement reached on the fiscal cliff, no beneficiary cuts. is that correct? guest: the providers are facing a 2% cut on sequestration will complain to their patients that washington is taking too much from them. host: 202 is the area code if you would like to participate. 202-585-3881 for republicans. 202-585-3880 for democrats. 202-585-3882 for independents. do medicare premiums go up every year automatically? guest: part b is about $99 this year and that will increase to...
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Dec 27, 2012
12/12
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MSNBCW
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eye 117
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let's take a look at the so-called fiscal cliff. the bush tax cuts will expire. everyone, even republicans know if we go over the cliff, the bush tax cuts will be restored for at least 98% of americans. payroll taxes will go back to normal in 2013. the payroll tax cut was always intended to be a temporary measure. the alternative minimum tax would hit middle class americans. year after year, this has been fixed by lawmakers and like everything else notice fiscal cliff, it can be done retroactively. the harshest effects of spending cuts could be modified in the first month or two of 2013. in fact, the defense department, the irs and other government agencies are planning no immediate changes because they're anticipating some kind of deal. that leaves the unemployed, extended unemployment insurance will expire immediately if we go over the cliff. a deal later in january could theoretically restore extended benefits, the immediate damage will have already been done. for many people, this is all an interesting charade. but for the unemployed it's the real deal. get y
let's take a look at the so-called fiscal cliff. the bush tax cuts will expire. everyone, even republicans know if we go over the cliff, the bush tax cuts will be restored for at least 98% of americans. payroll taxes will go back to normal in 2013. the payroll tax cut was always intended to be a temporary measure. the alternative minimum tax would hit middle class americans. year after year, this has been fixed by lawmakers and like everything else notice fiscal cliff, it can be done...
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if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give leeway to meet your unique circumstances in our state. we are all different. different budgets, different employment rates, different constitutions, different laws. different styles of living and means within our budget. give us some flexibility. gerri: i expect you to be a little bit more upbeat about the fiscal cliff, but i have to tell you, you sound like a lot of people in washington today. concerns over whether these leaders can get together and find common ground and resolve this issue. it would be meaningful to stay like yours
if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state budget. the federal strings are tied. i asked the president about this. the federal funds that come down to the state as you may cuts -- we can still have the strength attached to it. it doesn't give...
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Dec 31, 2012
12/12
by
WBAL
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is just hours away from going over that fiscal cliff. without a deal before midnight, americans will be bringing in this new year with sweeping tax hikes and swing -- a tactic -- and cuts. >> >> t . >> i hope that they can work together and realize that this is affecting everyone. >> both chambers will reconvene this morning at whichthat they k together and realize that this is affecting everyone. >> both chambers will reconvene this morning at which point, there are just 12 hours left until this deadline. >> whatboth chambers will recone this morning at which point, there are just 12 hours left until this deadline. >> what are lawmakers working on today? >> we understand that senator harry reid, the majority leader, will what are lawmakers workingn today? >> we understand that senator harry reid, the majority leader, will reintroduce the pre fiscal cliff, maryland would be hit hard with hundreds of millions of dollars and tens of thousands of jobs lost. >> if america falls off that fiscal cliff, maryland would be hit hard with hundreds
is just hours away from going over that fiscal cliff. without a deal before midnight, americans will be bringing in this new year with sweeping tax hikes and swing -- a tactic -- and cuts. >> >> t . >> i hope that they can work together and realize that this is affecting everyone. >> both chambers will reconvene this morning at whichthat they k together and realize that this is affecting everyone. >> both chambers will reconvene this morning at which point, there...
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Nov 27, 2012
11/12
by
CNBC
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let's go off the fiscal cliff. better to do that than make unnecessary cuts. so what is he willing to cut? that's coming up. >>> also, would you like $500 million? that's the powerball jackpot right now. even lottery winners are not going to be safe from the fiscal cliff. all details coming up later on the "closing bell." stay tuned. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. >>> home prices rebounding. we just learned today that prices were up 3% from a year ago in september. >> but there is a range that could be heading toward the housing market's momentum. the one sacred home mortgage deduction could be on the chopping block as part of any deal to avert going over the fiscal cliff in order to raise revenue. what happens to the housing market if that goes by the wayside or is modified? joining us is the president of team investments, and the president
let's go off the fiscal cliff. better to do that than make unnecessary cuts. so what is he willing to cut? that's coming up. >>> also, would you like $500 million? that's the powerball jackpot right now. even lottery winners are not going to be safe from the fiscal cliff. all details coming up later on the "closing bell." stay tuned. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh,...
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Aug 6, 2012
08/12
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CSPAN
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cliff. these are spending cuts that really could affect the economy next year. i think president obama was right in terms of the market reaction. we are still being treated as a a.a.a. country. there is more interest in buying u.s. treasury bonds, but in terms of congressional action, we have not seen a lot of progress were reasons -- or reasons to be more optimistic about our policies being able to get things done. host: is this affecting the economy at all? has this affected the economy in a big picture? guest: it has affected in the short term. the downgrade came out on a friday and the following monday the markets tumbled. one year later though, we see that treasuries have rallied and we have interest rates on the 10-year treasury, the benchmark, below 1.4% and down from where they were one year ago. the appetite for the u.s. safe- haven products have grown. the s&p 500 is up over the last year. there has not been a substantial market reaction and they're saying it is an unprecedented mo
cliff. these are spending cuts that really could affect the economy next year. i think president obama was right in terms of the market reaction. we are still being treated as a a.a.a. country. there is more interest in buying u.s. treasury bonds, but in terms of congressional action, we have not seen a lot of progress were reasons -- or reasons to be more optimistic about our policies being able to get things done. host: is this affecting the economy at all? has this affected the economy in a...
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Dec 31, 2012
12/12
by
MSNBCW
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eye 229
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there's also a series of spending cuts that will also be triggered by the fiscal cliff. $1.2 trillion in sequestration will kick in beginning january 2nd. next year alone, $109 billion will be slashed. half from the defense budget and half from nondefense spending. the so-called doc fix would also go away, reducing medicare payments to doctors by 27%. and finally, unemployment benefits will run out for more than 2 million americans who have lost their jobs. benefits will only be available for up to 26 weeks, a drastic reduction from the 73 weeks available to some out-of-work americans. i want to go to sam stein, but first, dr. sachs, if we go over the cliff, it is the poor americans who will be hit the hardest, correct? >> well, there are parts of that where the poor will be hit the hardest. but if we make a deal right now of the kind that's being talked about, it's going to gut the federal budget for a decade to come. so we're on the brink either of these difficulties right now, which are real, or making terrible decisions that are going to lock us into a situation that we absolutely
there's also a series of spending cuts that will also be triggered by the fiscal cliff. $1.2 trillion in sequestration will kick in beginning january 2nd. next year alone, $109 billion will be slashed. half from the defense budget and half from nondefense spending. the so-called doc fix would also go away, reducing medicare payments to doctors by 27%. and finally, unemployment benefits will run out for more than 2 million americans who have lost their jobs. benefits will only be available for...
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Dec 8, 2012
12/12
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CNBC
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with the countdown to the fiscal cliff at 24 days, the "washington post" reporting today that federal agencies are sharpening their plans before spending cuts, layoffs, fur lows and just general old down sizing. all if president obama fails to strike a deal, which i believe is increasingly likely. let's brung in distinguished fellow at the heritage foundation, form congressman old friend. ernie, i'm not shedding any tears over this. i think these fur lows and layoffs and downsizing is just what they need. >> i understand that the labor department report which came out today shows that 73% of the new jobs created since june are government jobs. we have 20 million people working for government at the federal, state and local level right now. and i can't tell you the exact mix between federal, state, local, but i do know that a huge number of the people who are on t payrolls are actually getting the money for those programs from the federal government. so the federal government should stop subsidizing states and cities and for that matter should not be putting extra burdens upon them wit
with the countdown to the fiscal cliff at 24 days, the "washington post" reporting today that federal agencies are sharpening their plans before spending cuts, layoffs, fur lows and just general old down sizing. all if president obama fails to strike a deal, which i believe is increasingly likely. let's brung in distinguished fellow at the heritage foundation, form congressman old friend. ernie, i'm not shedding any tears over this. i think these fur lows and layoffs and downsizing is...
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156
Jul 16, 2012
07/12
by
FOXNEWS
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eye 156
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and businesses around the country about how scared they are of this there are 8 trillion fiscal cliff at the end of the year. unfortunately, both parties are to blame about the fiscal cliff. you heard me say it before. the democrats, no one is taking a serious line on anything they would really do, because even if obama wins re-election. patty murray and others suspect he, too, will reinstate the tax cuts. but the republicans voted for the sequester from the draconian military cuts. now they are saying they are unacceptable. but at the same time, they are not making sincere effort, serious effort to make sure that the compromise to get the military planners right now preparing for the layoffs and other cuts. ill's on both sides. we have to wait nil november 7 for the work. >> bret: this is about positioning before november and semantics. >> this is not real. if i could say on the defense cuts, it's -- you would expect the president commander in chief should lead the way on the defense spending to prevent sequestration. on the issue of the bluff it's not going to happen. two things hap
and businesses around the country about how scared they are of this there are 8 trillion fiscal cliff at the end of the year. unfortunately, both parties are to blame about the fiscal cliff. you heard me say it before. the democrats, no one is taking a serious line on anything they would really do, because even if obama wins re-election. patty murray and others suspect he, too, will reinstate the tax cuts. but the republicans voted for the sequester from the draconian military cuts. now they...
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Dec 26, 2012
12/12
by
KPIX
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eye 193
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the white house says the president is cutting its vacation in hawaii short to deal with "fiscal cliff" negotiations. his focus, figure out a plan to avoid the huge spike in taxes and spending cuts set to take effect in 6 days. senate majority leader harry reid is believed to be crafting his own fiscal package including extending the bush- era tax cuts for households making less than $250,000. now, regardless of what happens with the "fiscal cliff," new taxes to help pay for the affordable healthcare act will take effect january 1. but the average american will not really see a difference in his bill to the irs. the wealthiest 2% of americans and the healthcare industry will pick up the majority of the tab. back to you. >> thank you. >>> now, ladies and gentlemen, time for the big story of the day. that is as per usual the weather and now the hardest working woman in showbiz. >> i have been working a lot lately. i know. yeah. the holidays, busy time. and if you are out and about traveling you know the rain has been a big issu the last few days. we'll get some brief dry breaks but we ha
the white house says the president is cutting its vacation in hawaii short to deal with "fiscal cliff" negotiations. his focus, figure out a plan to avoid the huge spike in taxes and spending cuts set to take effect in 6 days. senate majority leader harry reid is believed to be crafting his own fiscal package including extending the bush- era tax cuts for households making less than $250,000. now, regardless of what happens with the "fiscal cliff," new taxes to help pay for...
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Dec 29, 2012
12/12
by
FOXNEWSW
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eye 194
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the fiscal cliff is defense cuts and high taxes welcome to the republican party. >> rational people say that's not a good thing to do. i would hope that robert and sober behavior before new year's eve would land like an alien rocketship in washington and get these people to the table. >> greg: alice, you are sane, i believe. what do you make of this? the point i'm trying to make is why are the democrats scared of the fiscal cliff when it defines basically their ultimate dream? the democrats are anxious. they are embracing the fiscal cliff. we got obamaened a democrats in the conservative thunder bird ready to put the pedal to the metal on the fiscal cliff. they can raise taxes. they can cut military spending and they can blame the g.o.p. when the g.o.p. is doing the smart thing here wanted pointing the finger at the real problem, which is out of control spending. fixing this problem is not going to be easy but it's not complicated. we can't rely on raising taxes. we have to focus on cutting spending. that's what republicans are doing. even more so with geithner pointing out warning us o
the fiscal cliff is defense cuts and high taxes welcome to the republican party. >> rational people say that's not a good thing to do. i would hope that robert and sober behavior before new year's eve would land like an alien rocketship in washington and get these people to the table. >> greg: alice, you are sane, i believe. what do you make of this? the point i'm trying to make is why are the democrats scared of the fiscal cliff when it defines basically their ultimate dream? the...
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Dec 13, 2012
12/12
by
CNBC
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>> all the cuts that happened as a result of the fiscal cliff, all over the place. let's cut hundreds of billions in defense. it doesn't indicate what missions are going to be no longer what, programs we're going to kim. i mean, we really have to be stupid to be doing that. >> so irresponsible. >> not knowing where the cuts are hitting. >> right. >> for the security of this country. >> i agree. >> so, therefore, you're going to get some agreement. maybe it's january 5th, maybe it's december 30th, january 10th, but it will probably be a band-aid agreement. that's the problem. this isn't going to be one of these long-term deficit reduction, credible agreements that does tax reform, entitlement reform. >> that's for another day. >> that's for another day, so i don't think the markets are going to real that much, but i think it will prevent the fiscal cliff. >> always good to see you, larry. >> very good insights for next year. >> ten minutes before the closing pebble. a market that's low but well off the lows of the day. real comeback on the hools of the announcement t
>> all the cuts that happened as a result of the fiscal cliff, all over the place. let's cut hundreds of billions in defense. it doesn't indicate what missions are going to be no longer what, programs we're going to kim. i mean, we really have to be stupid to be doing that. >> so irresponsible. >> not knowing where the cuts are hitting. >> right. >> for the security of this country. >> i agree. >> so, therefore, you're going to get some agreement. maybe...